Dukascopy Bank Denies Any Ties to Clone Firm GCG Asia

Switzerland’s Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term bank and broker, Dukascopy, today warned for the second time against a ‎cryptocurrency and FX ‎trading provider that has been falsely claiming affiliation with its ‎authorized brand.‎ The clone entity, called ‘GCG Asia,’ prompted action from the regulated company.

Dukascopy confirmed that it has no association whatsoever with ‎the aforementioned website and advised everyone to avoid it entirely.‎

The company added that GCG Asia and its CEO, Yaw Foo, are fraudulently using Dukascopy’s name and logo for attracting clients/investors. "We are taking actions against this dishonest organization," Dukascopy said, adding that it has never provided Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term GCG Asia.

The forex bank also noted that Switzerland’s financial market supervisor (FINMA) warned previously against GCG Asia as the said brand has no presence or authorization in Switzerland.

The fraudulent brand is indeed attempting to mislead investors into ‎thinking that it is offering ‎a ‎‎legal product by using the ‎details of an authorized firm operating under a similar name.‎ However, investors should be aware that the original company is not available to help in recovering funds if the unauthorized entity scammed them.

Dukascopy ‘Real’ Crypto Offering

Dukascopy has been taking steps towards strengthening its budding cryptocurrency offering, including allowing clients to deposit and withdraw funds in digital coins, as well as enabling free internal crypto-transfers between users of mobile banking.

Dukascopy’s announcement came just a few weeks after it launched the official website of its own cryptocurrency, the Dukascoin. Available in five languages, the Dukascoin website, www.dukascoin.com, is dedicated to improving the visibility of Dukascopy’s latest crypto product through offering general information and up-to-date news.

Earlier in December of last year, Dukascopy said it had become the first Swiss bank to win approval for an ICO by the FINMA.